Proxima Fusion Secures €130 Million Series A Funding for Stellarator Power Plant Development
Deal News | Jun 17, 2025 | Taylor Wessing
Munich-based Proxima Fusion, a start-up spun out from the Max Planck Institute for Plasma Physics, has secured €130 million (approx. US$150 million) in a Series A funding round. The prestigious European venture capital firms Cherry Ventures, Balderton Capital, and ClimateTech investor Leitmotif jointly led the round. Legal advice for the investors was provided by a team from the law firm Taylor Wessing, led by Dr. Norman Rchert. Proxima Fusion, focusing on a stellarator design for fusion energy, plans to utilize the funds to develop the first model coil for stellarators and establish a demonstration site for its project. Operations are expected to start by 2031, with the aim to achieve a net energy gain, an essential step towards a cleaner energy future. The funding highlights Proxima Fusion's role as a leading contender in Europe’s quest for commercial fusion energy, blending scientific expertise with an entrepreneurial drive.
Sectors
- Energy Technology
- Venture Capital and Finance
- Legal Services
Geography
- Germany – Proxima Fusion is based in Munich, Germany, and is central to the article's geographic context.
- Europe – The investors, including Cherry Ventures and Balderton Capital, are predominantly European, targeting the European energy market.
- United States – Leitmotif, a participating investor, has ties in Palo Alto, connecting the US innovation ecosystem with Europe.
Industry
- Energy Technology – Proxima Fusion is developing an innovative fusion power plant, making this strongly relevant to the energy technology sector.
- Venture Capital and Finance – The article discusses a significant Series A financing round led by venture capital firms, making this pertinent to the venture capital and finance industry.
- Legal Services – Taylor Wessing provided comprehensive legal advice, indicating the role of legal services in facilitating the transaction.
Financials
- €130 million – The amount raised by Proxima Fusion in its Series A funding round.
- US$150 million – Approximate value of the €130 million in USD.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Proxima Fusion | Target Company | Company | A deep tech start-up focused on developing a fusion power plant based on stellarator design. |
| Cherry Ventures | Investor | Company | A European early-stage venture capital firm and co-leader in the Series A round. |
| Balderton Capital | Investor | Company | A London-based venture capital fund, co-leading the funding round. |
| Leitmotif | Investor | Company | An independent venture capital firm focusing on deep tech and climate tech solutions. |
| Taylor Wessing | Legal Advisor | Company | A law firm that provided comprehensive legal advice to the investors in the transaction. |